Prime Minister Modi, Russian President Vladimir Putin and his Chinese counterpart Xi Jinping.
Kazan (Russia): Thanks to Prime Minister Modi’s tremendous diplomacy, India has completely succeeded in becoming the leader of the Global South. The situation of the countries of the Global South, which used to be ignored in global forums, has now become such that other countries are also forced to support their voice in all international forums. Even at the recent United Nations Security Council conference held in New York, Prime Minister Narendra Modi prioritized the voice of the Global South. Other countries, including the UN, also supported this. Now it was the turn of the BRICS. Here too Prime Minister Modi strongly highlighted the development and problems of the Global South. Russia also fully supported this initiative of Prime Minister Modi. But this made neighboring China nervous.
At the BRICS summit, Prime Minister Modi argued that the hopes, aspirations and expectations of countries in the “Global South” must be taken into account. He said the term “Global South” came into use in the 1960s. The term is generally used for regions in Latin America, Asia, Africa and Oceania. In particular, this means countries outside Europe and North America, in the southern hemisphere and the equatorial region, which are mostly low-income and politically backward. Earlier, on the UN platform, Prime Minister Modi had advocated providing loans at affordable rates to countries in the Global South to free them from their debts.
PM Modi hailed new development bank
Prime Minister Modi highly valued the role of the New Development Bank in the development of the countries of the Global South. He said that he congratulates the president of the New Development Bank, Dilma Rousseff. This bank has been emerging as an important option for the development of countries in the Global South in the last 10 years. He said that the opening of GIFT City in India has strengthened the activities of this bank. The BND should continue working on this. When expanding the bank, demand-driven principles must be prioritized and ensure long-term financial sustainability, healthy credit rating and market access. After India, Russia also made a big announcement for the Global South. After this, seeing the Global South slipping out of his hands, Xi Jinping was also forced to support these backward countries with great regret.
President Putin’s great gift to the Global South, he announced this
Russian President Vladimir Putin supported India’s initiative and gave a big gift to the countries of the Global South. He said that we propose to create a new BRICS investment platform. It will be the new global investment platform of the BRICS to provide financial resources to all countries in the Global South. We need to jointly promote a low-emissions economy model. Jinping was disturbed to see that Russia was also supporting India to become the voice of the Global South. After that he also had to raise the question of his rights.
China was forced
After India and Russia clearly supported the Global South, China was also forced to raise its voice for its rights. Chinese President Xi Jinping said during this time that we need to increase the presentation and voice of countries in the Global South. To do this, we should deepen financial and economic cooperation with the countries of the Global South. China fears that the Global South’s growing trust in India could force it out of those countries, because China has been trying to establish its dominance over the Global South for a long time.
The BRICS represent a quarter of the world economy
Prime Minister Modi said that the “BRICS” organization accounts for a quarter of the world economy. The Prime Minister described it as an organization that has the will to change with the times. “The BRICS group, made up of diverse perspectives and ideologies, is a source of inspiration for the world, promoting positive cooperation,” he said. It is based on “our diversity, mutual respect and consensus.” the basis of our cooperation.
Who are the members of the BRICS?
Brazil, Russia, India, China and South Africa are the main members of the BRICS and the group represents a quarter of the world economy. The ‘BRICs’ emerged as a formal grouping after the leaders of Brazil, Russia, India and China met in St. Petersburg in 2006. It was agreed to expand ‘BRIC’ to include South Africa in 2010 as ‘BRICS’. The group expanded last year, the first such exercise since 2010. The new BRICS member countries include Egypt, Ethiopia, Iran and the United Arab Emirates. Now Russian President Putin has stated that the number of its member countries will gradually reach 30.
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